Question

In the situation of problem 15-1, suppose that a second random sample of cardholders was selected, and 7 out of the 17 people in the sample were found to pay their bills on time. Construct the new posterior distribution containing information from the prior distribution and both samplings. Again, give a credible set of highest posterior probability close to 95%, and plot the posterior distribution.
Proportion .... Probability
0.1.......... 0.2
0.2.......... 0.3
0.3.......... 0.1
0.4.......... 0.1
0.5.......... 0.1
0.6.......... 0.1
0.7.......... 0.1


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  • CreatedJune 04, 2015
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